- The Dutch Central Bank approved Crypto.com’s registration in the Netherlands.
- The company will be permitted to supply crypto wallets and enable fiat currency processing in the region.
- Crypto.com CEO Kris Marszalek vowed to continue working closely with the Dutch authorities.
Crypto.com becomes the latest crypto firm to secure registered approval with the Dutch Central Bank, joining a list of 36 approved crypto-related firms in the region.
De Nederlandsche Bank (DNB) gave the exchange the green light to offer services in the jurisdiction after a thorough review found its business operations compliant with the Netherlands’ anti-money laundering and terrorism counter-financing regulations.
Commitment to Ethical Blockchain Progress
Crypto.com CEO Kris Marszalek lauded the decision as a win, underscoring the importance of the license in conveying Crypto.com’s enthusiasm to continue working with like-minded regulators worldwide.
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Crypto.com will now be permitted to offer crypto-related services to users in the Netherlands, including cryptocurrency wallets and crypto-fiat currency transactions.
The approval from the Dutch government is the latest addition to the exchange’s registration permits and licenses held across Asia and Europe. The company is registered with Singapore’s Monetary Authority of Singapore (MAS) as a provider of domestic money transfer services, France’s Autorité des Marchés Financiers (AMF) as a Digital Asset Service Provider, and the UK’s Financial Conduct Authority (FCA) as a crypto-asset business.
Is the Netherlands the New Crypto Hub in Europe?
Crypto.com’s official entry into the Netherlands comes after market leader Binance’s recent exit from the region after failing to secure approval from the Dutch Central Bank.
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The Netherlands has been an active landscape for crypto firms recently. Notable companies operating in the country include Coinbase, eToro, and SingularityDAO.
Without crypt-specific regulation, the Dutch Central Bank uses the ‘Fifth Anti-Money Laundering Directive (5MLD)’ to evaluate a crypto company’s compliance with the ‘Dutch Money Laundering and Anti-Terrorist Financing Act.’
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